Investors Had Expected Higher Price
Sprint Nextel and Clearwire settled on a $2.97-per-share takeover price for the broadband company. That's a disappointment to some traders who had bid the stock up to $3.37 on Friday, and now CLWR is down 9 percent before the bell on my tradeMONSTER platform.
Lexicon Gains on FDA Fast Track Move
Lexicon Pharmaceuticals announced that the Food & Drug Administration granted fast-track priority status for review of its LX1033 irritable-bowel compound, which it said had shown promise in Phase 2 studies. LXRX is up 10 percent in the premarket.
Enzon Exploring Strategic Moves
Enzon Pharmaceuticals said it's hired Lazard to act as a financial advisor to consider selling assets or the company outright. That's sending ENZN higher by 8 percent in early trading.
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